07/12/11 -
Ukash provides reload option for new Watch2Pay payments wristwatch
[499550]
Ukash, the
internationally recognised e-commerce cash payment method, has been
listed as a method for reloading cash onto the UK's first ever
prepaid contactless wristwatch. Watch2Pay launched on Monday
29th November 2011 as a result of a collaboration
between watch manufacturer LAKS and issuer Vincento. It delivers
MasterCard®PayPass™ contactless technology through a wristwatch for
the first time in this market, allowing consumers to simply 'Tap
& Go™' to make fast, secure payments for up to £15 within
seconds.
The new wristwatch will enable consumers to 'Tap & Go'
against a contactless reader at over 70,000 retailers throughout
the UK, removing the need to enter a PIN. Using the reloadable
MasterCard® card provided, consumers will have the option to load
cash onto their wristwatch using Ukash.
David Hunter from Ukash explained, "Time will tell whether your
wristwatch replaces your wallet but the digitalization of cash is
well under way. Watch2Pay will increase Ukash's offline presence
and offer our customers the opportunity to exploit the convenience
and security of contactless payments for small value items."
Watch2Pay has already launched in Turkey, Poland and several
Asian markets.
Lucas Scheybal, CEO of LAKS, said, "Enabling consumers to reload
our contactless wristwatches with Ukash has allowed us to offer the trusted and
secure cash payment method to all our customers. It was important
to us to work with established UK brands, and Ukash comes with the
additional bonus of being recognised internationally with its large
global footprint."
Ukash empowers
people worldwide to use cash electronically, irrespective of
status, device or boundary, and is available at 420,000 retail
locations. Globally, Ukash is active in more than
50 countries.
Consumers can purchase a LAKS wristwatch for £99 (plus postage
& packaging) online at www.watch2pay.co.uk.
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